Alto Metals Ltd (ASX:AME) chairman Terry Streeter has resigned from the gold explorer’s board to pursue his other business interests.
The company has elected Terry Wheeler, who joined Alto’s board in December 2016 and is its largest shareholder, as acting chairman.
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Wheeler said the Alto board thanked Streeter for his service and wished him the best with his future endeavours.
Alto’s board now comprises Wheeler, non-executive director Jingbin Wang and managing director Dermot Ryan.
The board has reaffirmed that it is committed to discovering and developing one or more major gold deposits in the Sandstone region of WA.
A ramping up of exploration activity and drilling is expected in 2019, after two years of compilation, target identification and target testing.
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Alto holds about 800 square kilometres of prospective ground in the Archaean Sandstone Goldfield in the East Murchison mineral field of WA.
Since acquiring the project in 2016, the company has compiled and reviewed a large legacy database ahead of a series of focused exploration and drilling campaigns.
Alto’s goal is the delineation of a plus-1 million-ounce JORC mineral resource that could become the basis for the re-establishment of standalone oxide and primary gold mining and milling operations